Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

January 15, 2021

Foxwoods profits dip as pandemic continues taking a toll

HBJ Photo | Joe Cooper The Grand Pequot tower at Foxwoods Resorts Casino.
By Liese Klein

Foxwoods slots revenue dipped slightly in December, dropping 1.4% to $21.5 million from $21.8 million in November. 

The casino gave $6.1 million to the state in December compared to $5.5 million the month before.

Year-over-year revenues dropped 36% from $33.6 million in December 2019, continuing the steep slide in profits due to the COVID-19 pandemic. 

Both of the state’s casinos warned of dire results for 2020 in state filings earlier this month, with Mohegan Sun including a “going concern” warning in its financial filings with the U.S. Securities & Exchange Commission (SEC) if it didn’t refinance loans.

On Jan. 13, Mohegan Gaming & Entertainment announced refinancing transactions totaling $1.175 billion.

Pandemic-related losses have also hit state coffers: Slot machine revenue going to the state fell by one-third during the first 11 months of 2020, according to state data.
 

Sign up for Enews

Most Recent

Most Recent

0 Comments

Order a PDF